Latin America’s biggest network service provider, America Movil SA, on Monday, has reported an increase of 50.6 per cent in third quarter net profit.

During the July-September period, the net profit of the company has increased from 12.4 billion pesos in 2008 to 18.7 billion pesos in 2009.

The net income per share has also increased to 0.57 per cent.

The company, which is owned by billionaire Carlos Slim, noted that subscriber growth remained curbed in most of the countries except Brazil.

The company also mentioned that the drop of the Mexican peso against the U. S. dollar and the Brazilian and Columbian currencies was one of the major factors that contributed to the growth in the service revenue.

Customer addition was very low in America Movil as it added only 4 million subscribers as against 7.3 million subscribers during the same period in 2008.

Brazil was the leader as it added 1.8 additional subscribers and it was closely trailed by the U. S. Subsidiary of America Movil, Tracfone, with 712,000. Mexico was third in the list with 280,000 customers.